Whilst
it's true I prefer houses over flats for investment, there are
occasions when I spot a flat and think it would make a good buy-to-let.
Plus, several people have asked me to suggest a few more flats that fall at the lower end of the price scale, so I'm more than happy to oblige.
This one-bed flat is in the central location of Westgate, just a stones-throw to the West of Chichester's city centre. It's recently been reduced from £135,000 to £129,950 (a not insignificant 3.7% reduction) and I think it's safe to assume it could be bought for under £125,000 and thus avoid paying stamp duty.
It's already tenanted, so would come with minimal hassle, no void period and a decent £600 per month income (assuming the tenant you're lumbered with is a good one). This equates to a yield of 5.8% (based on £125,000), which is a strong return from a city centre apartment that, whilst compact, is already in excellent condition.
Be aware, of course, that as it's a flat it will come with service charges and ground rent to pay, along with an inherent profile of tenant that are likely to move more often; all of which would significantly reduce this attractive looking return (did I mention I prefer houses to flats?)
Full details can be found on Rightmove via the following link:
www.rightmove.co.uk/property-for-sale/property-32692827.html
Plus, several people have asked me to suggest a few more flats that fall at the lower end of the price scale, so I'm more than happy to oblige.
This one-bed flat is in the central location of Westgate, just a stones-throw to the West of Chichester's city centre. It's recently been reduced from £135,000 to £129,950 (a not insignificant 3.7% reduction) and I think it's safe to assume it could be bought for under £125,000 and thus avoid paying stamp duty.
It's already tenanted, so would come with minimal hassle, no void period and a decent £600 per month income (assuming the tenant you're lumbered with is a good one). This equates to a yield of 5.8% (based on £125,000), which is a strong return from a city centre apartment that, whilst compact, is already in excellent condition.
Be aware, of course, that as it's a flat it will come with service charges and ground rent to pay, along with an inherent profile of tenant that are likely to move more often; all of which would significantly reduce this attractive looking return (did I mention I prefer houses to flats?)
Full details can be found on Rightmove via the following link:
www.rightmove.co.uk/property-for-sale/property-32692827.html
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If you are looking for an agent that is well-established, professional and communicative in Chichester, then contact us to find out how we can get the best out of your investment property.
E-mail me on clive@crjlettings.co.uk or call 01243 624 599.
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